Reversing an earlier decision, New Jersey’s Department of Banking and Insurance announced that it will allow the exclusion of coverage for toxic mold from policies offered by the State’s surplus lines insurers. The move was applauded by the NAII, which …
eAutoclaims, which provides the insurance industry with online claims management solutions through both an ASP and outsourcing solutions services, has entered into a two-year exclusive agreement with CenCal Insurance Services Inc. to provide online claims management solutions. CenCal’s contract provides …
California Gov. Gray Davis and legislative leaders are crafting a tentative agreement addressing workers’ compensation reform, with hopes of passing a workers’ compensation benefits bill by Jan. 25. Davis, who vetoed Senate Bill 71 in October of last year, pledged …
According to The New York Post, New York Insurance Superintendent Greg Serio met before the Senate Insurance Committee recently to discuss the scope of the insurance losses resulting form the Sept. 11 attacks. According to Serio, the losses will be …
The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such exclusions. According to NAII, reinsurance contracts for many personal lines insurers now contain …
According to a Business Wire report, insurers will have to strengthen their loss reserves in order to be able to meet future claims, as stated in a new Conning & Company study. Though property-casualty rates have been growing in the …
The Bureau Enquêtes Accident (BEA), the investigation agency charged with examining the crash of the Air France supersonic Concorde near Paris in July 2000, has released its final report. It confirms that the plane struck a metal piece on the …
Confirming earlier reports (See IJ Website Jan. 16), Lloyd’s announced that its ruling body, the Council of Lloyd’s, has put forth a radical plan to restructure the way the 300 year old market does business. If adopted, unlimited liability would …
American International Group has terminated its efforts to reach an agreement with the South Korean Government and the management of Hyundai Investment Trust & Securities to acquire the securities broker and two affiliates, stating that, “despite the best efforts of …
Standard & Poor’s announced that it has withdrawn its double-‘B’-minus counterparty credit and financial strength ratings on Empire Insurance Co., Allcity Insurance Co., and Centurion Insurance Co., the members of the Empire Insurance Intercompany Pool (Empire). “These ratings were withdrawn …
